“People always need money — in good times and bad times,” said co-owner Scott Goldstein, who directs the business from a backroom command central. Part jeweler, part IT guy, part horse trader, Goldstein sits in front of three giant, flat-screen monitors, supervising the store’s $35,000 security system,…[Full Article Here]

“We’re seeing clientele that would have traditionally not done business with a pawnshop or maybe had never been in a pawnshop before,” Mr. Tansky said. “Now we’re seeing lawyers, engineers, accountants, and other professionals come in who are using our services for a variety of reasons, not the least of which is their jobs may have been downsized, their hours may have been cut back.”..[Full Article Here]

Read More Here.

Typical pawn loans are for a period of four to eight months, and you simply pay the interest due and redeem your item with a single payment – either at the end of the four or eight month term , or earlier if you wish.

So when you need to pay unforeseen bills, and easy way of raising quick cash can be to use your own valuable items as security for a loan, either until things improve, or next pay day, or until the end of the loan term. Usually, you can repay the loan and then immediately take it out again; you simply continue to pay the monthly interest- in fact a high percentage of people who pawn their items become repeat customers.

Following the recent banking crisis it has become more difficult to borrow or obtain a loan from banks, so pawnbroking offers a very viable and convenient option.

It is important to check and compare interest rates as these differ, and also whether the pawnbroker makes any additional charges for early redemption, lost ticket, or storage.

Give a call at the Midtown Loan office in San Francisco with any questions you may have about the process or current rates: (415) 362-5585

“Pawnbroking has always been a solution for short-term cashflow needs in any economic climate, and is relatively recession neutral.

“However, the barriers that have been created in regards to access to credit by banks has widened the customer base for pawnbroking, with new customers seeking to take advantage of our simple-to-use facilities.

“The increase in the price of gold has enabled customers to borrow more cash against their jewellery items than before, as well as enabling thousands of customers to raise cash from unwanted and broken jewellery.”…[Full Article Here]

Ring Envy

A previous Midtown Loan office post about upscale jewelry.